Mexico ranked Number 1 among United States trading partners. US-based companies account for more than half of Mexico’s foreign investment.

As per the Mexico Export Data, the major exports of the country are machinery and transport equipment, steel, electrical equipment, chemicals, food products, petroleum, and petroleum products. About 4/5 of the petroleum of Mexico is exported to the United States, which relies on Mexico as one of its main sources of oil. The other export trading countries of Mexico are China, Japan, Korea rep, and Germany.

Mexico is the second-largest agricultural export market for the USA, importing USD 19.2 billion in US agricultural products including soybeans, corn, dairy, beef products, and pork.

Mexico Import Data shows that the major imports of the country are, machinery and transport equipment, chemicals, and consumer goods. The major import trading partners of Mexico are Canada, Germany, China, the United States, and South Korea.

Mexico carries are surplus trade with the United States, exporting more than imports from its neighbor. The Mexican economy is an export-oriented economy, with more than 90% of Mexican trade is under free trade agreements with more than 40 countries including Japan, the European Union, Israel, and much of Central and South America.

In the year 2019, the country was the number 15 economy in the world in terms of GDP ranking No.9 in exports and No. 13 in imports. The top exports of Mexico are cars, computers, vehicle parts, delivery trucks, crude petroleum. The Custom data of Mexico shows that the top imports of the country are Integrated circuits, refined petroleum, vehicle parts, office machine parts, and cars.

Foreign trade and Mexico Export Data

Covid-19 has hit Mexico even though it was in a feeble place. The economy shrank during the pandemic. Both the global financial institutions and private analysts have lowered growth expectations due to the pandemic. However, no fiscal measure imposed has resulted in the encouragement of the economy.

The country is heavily dependent on commercial relations with its main trading partner – the USA, which accounts for more than three-quarters of the country’s exports. The trade balance of Mexico is structurally negative. There was an unprecedented fall in the volume of exports and imports due to the global economic crisis and the outbreak of Covid-19.